Increase in In-store Shopping and Black Friday Promotions Key for Retailers
- Increase in consumers planning to spend more during Christmas this year
- Deloitte’s Consumer Tracker report surveyed over 3100 UK consumers
- 7% increase in consumers intending to spend more on Christmas gifts
- 29% of customers plan to spend less compared to last year
- 32% of respondents will purchase majority of gifts in November
- Black Friday and Cyber Monday promotions crucial for retailers
- Discounters and supermarkets may benefit from increased spending
- High street shops need to compete with online rivals
A recent study by Deloitte reveals that more UK consumers are planning to increase their Christmas spending this year compared to last year. The survey found a seven percentage point rise in those intending to spend more during the festive season, with many prioritizing savings for holiday purchases. However, retailers should still expect cautious shoppers due to high energy and fuel prices. Consumers are also spreading their expenses across the quarter, with 32% planning to buy gifts in November. Black Friday and Cyber Monday promotions will be crucial for success, and discounters and supermarkets may benefit from increased spending. High street shops must focus on customer experience to compete with online rivals.
Factuality Level: 8
Factuality Justification: The article is based on a survey conducted by Deloitte which provides data about consumer spending intentions for the festive season. It includes relevant information from the report and quotes from an expert in the field. However, it does not contain any personal opinions or exaggerations.
Noise Level: 3
Noise Justification: The article provides relevant information about consumer spending intentions for the festive season and offers insights into shopping trends, but it could benefit from more analysis of long-term trends or possibilities, as well as a deeper exploration of the factors influencing these decisions beyond just the cost-of-living crisis. It also does not hold powerful people accountable or explore consequences on those bearing risks.
Financial Relevance: Yes
Financial Markets Impacted: Retail sector, specifically retailers and companies in the UK
Financial Rating Justification: The article discusses consumer spending intentions for Christmas, which impacts the retail sector and individual retail companies during the festive season. This has implications on their sales and revenue, making it financially relevant.
Presence Of Extreme Event: No
Nature Of Extreme Event: Other
Impact Rating Of The Extreme Event: No
Extreme Rating Justification: There is no mention of an extreme event in the last 48 hours.
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